Business Daily Media

Men's Weekly

.

Velocity Global raises $400M in Series B growth round

DENVER, US - News Direct - 18 May 2022 -

  • Eldridge and Norwest Venture Partners lead funding round
  • Achieves multi-billion dollar valuation, a 7x increase in one year
  • Investment boosts the company's Global Work Platform™ that enables businesses and talent to work with anyone, anywhere, anyhow

Velocity Global, the leading provider of global talent solutions, announced today that it raised $400 million in its Series B funding round, increasing the company’s valuation seven-fold since the same time last year.



This second round of funding is led by Eldridge and Norwest Venture Partners which join Series A investor FFL Partners on Velocity Global’s board to lend their deep expertise in the areas of technology, future of work and global scale. The company retains majority ownership and founder Ben Wright continues as CEO and chair of the board of directors.

“This is a pivotal moment for our company in the midst of a paradigm shift for employers and talent,” said Wright. “Access to work is no longer limited by borders or the star you are born under as the adoption of global talent accelerates. In March, we tripled the number of new supported talent on our platform compared to the same time last year, and the momentum continues to build. Eldridge and Norwest Venture Partners join FFL Partners to invest in people’s lives and the future of business. Massive kudos to our team for this achievement on our way to even greater heights.”

Profitable since its founding in 2014, Velocity Global more than doubled its client roster over the past year, tripled the number of new supported talent on its platform, and will reach an annual net revenue run rate of $200 million by midyear as it continues to scale rapidly.

“Velocity Global’s proven technology platform is positioned to transform the future of work, offering businesses a frictionless solution for building and expanding their teams,” said Todd Boehly, co-founder and CEO of Eldridge. “We are proud to partner with Ben and his team as demand continues to grow for best-in-class workforce solutions that support organizations looking to scale across the globe.”

Parker Barrile, partner at Norwest Venture Partners, joins the Velocity Global board as a director. Barrile is the former vice president of product at LinkedIn who oversaw 20-fold growth as the company went public.

“Velocity Global has a rare mix of scale, growth, and profitability that attracted us to be part of the next phase,” said Barrile. “The company is led by a strong leadership team with an ambitious roadmap, and we look forward to partnering with them as they accelerate the future of work.”

The Global Work Platform from Velocity Global
The Global Work Platform from Velocity Global

The company’s Global Work Platform™ seamlessly connects employers and talent worldwide through proprietary cloud-based talent management technology, personalized expertise, and unmatched global scale. The platform offers a full suite of talent solutions, including global Employer of Record (EoR) and Contractor Management, to help thousands of companies compliantly onboard, manage, and pay full-time and part-time talent, contractors, and freelancers in more than 185 countries and all 50 United States.

Velocity Global serves more than 1,200 clients and over 7,000 supported employees worldwide. The Velocity Global team is more than 700 employees strong in 47 countries across six continents with plans to more than double the number of employees by the end of the year. In 2021, the company successfully completed acquisitions of iWorkGlobal and Shield GEO that added capabilities to its Global Work Platform.

Velocity Global will use the funds to continue enhancing the customer experience for both businesses and talent. The company will make further strategic investments in technology, sales and marketing, as well as potential future acquisitions to execute on its vision to provide a frictionless solution for businesses and talent to work with anyone, anywhere, anyhow.

FT Partners served as exclusive strategic and financial advisor to Velocity Global on this transaction.



About Velocity Global

accelerates the future of work for anyone, anywhere, anyhow. Its Global Work Platform™ simplifies the employer and talent experience through its proprietary cloud-based talent management technology, backed by personalized expertise and unmatched global scale. The platform offers a full suite of talent solutions, including global Employer of Record and Contractor Management, to help companies onboard, manage, and pay talent in more than 185 countries and all 50 United States. Thousands of brands rely on Velocity Global to build international teams without the cost or complexity of setting up foreign legal entities or state registrations. Velocity Global was named a "Leader" in Global Employer of Record Services by prominent analyst firm NelsonHall. Founded in 2014, the company has hundreds of employees across six continents. For more information, visit .

#VelocityGlobal

About Eldridge

Eldridge invests in businesses across the Insurance, Asset Management, Technology, Mobility, Sports & Gaming, Media & Music, Real Estate, and Consumer landscapes. The firm seeks to build and grow businesses led by proven management teams that have demonstrated leadership and experience to scale an enterprise. Eldridge is headquartered in Greenwich, Connecticut, with additional offices in Beverly Hills, New York, and London. To learn more about Eldridge, please visit .

About Norwest Venture Partners

Norwest is a leading venture and growth equity investment firm managing more than $12.5 billion in capital. Since its inception, Norwest has invested in more than 650 companies and currently partners with more than 200 companies in its venture and growth equity portfolio. The firm invests in early- to late-stage businesses across a wide range of sectors with a focus on consumer, enterprise and healthcare. The Norwest team offers a deep network of connections, operating experience, and a wide range of impactful services to help CEOs and founders scale their businesses. Norwest has offices in Palo Alto and San Francisco, with subsidiaries in India and Israel. For more information, please visit . Follow Norwest on Twitter .

The issuer is solely responsible for the content of this announcement.

News from Asia

Hong Kong Men Prioritise Tech Over Health, New Study Reveals

AXA Global Healthcare study highlights worrying gaps in how men prioritise their mental and physical health HONG KONG SAR - Media OutReach Newswire - 22 July 2025 - Men in Hong Kong are signi...

Swiss-Belhotel Brisbane Marks Six-Month Milestone

Strategically located next to The Gabba, the 110-room property affirms Swiss-Belhotel International’s growing footprint in AustraliaBRISBANE, AUSTRALIA - Media OutReach Newswire - 22 July 2025 - S...

AUPU’s ARCHIDEX 2025 Triumph: Redefining Home Comfort in SE Asia

KUALA LUMPUR, MALAYSIA - Media OutReach Newswire - 22 July 2025 - ARCHIDEX 2025 wasn't just an exhibition—it was a statement. AUPU, a global leader in home comfort tech, solidified its position as...

Singapore’s most beloved local F&B brands revealed: foodpanda unveils first-ever Local Foodie Heroes Hall of Fame

A delicious tribute to Singapore’s iconic local eats to mark SG60 celebrations – enjoy close to two months of exclusive launch deals SINGAPORE - Media OutReach Newswire - 22 July 2025 - Get ready ...

Encountering Naadam, Experiencing the 35th Grassland Carnival of the Inner Mongolia Autonomous Region

XILINGOL LEAGUE, CHINA - Media OutReach Newswire - 22 July 2025 - Mid-summer breathes life into Inner Mongolia's grassland, where lush pastures glisten after seasonal rains, nourishing herds benea...

Putting People First: ONYX Hospitality Group's Strategy for Sustainable Leadership

By nurturing talent and cultivating a high-impact culture, ONYX redefines hospitality excellence.BANGKOK, THAILAND - Media OutReach Newswire - 22 July 2025 - ONYX Hospitality Group, a leading hosp...

Wel-Bloom Biotech Launches Wel-ROS6. Black Crystal Roselle Sparks a Surge in High-Concentration Anthocyanins

Black Crystal Roselle Anthocyanin Levels Surge 17.7x — Wel-Bloom Biotech Elevates Taiwan’s Global Ingredient Competitiveness Black Crystal Roselle Shakes Up the Anthocyanin Market...

Lee Kuan Yew School of Public Policy Releases Strategic Roadmap for ASEAN's 5G-AI Transformation

New Research Reveals US$130 Billion Economic Opportunity and Outlines Policy Framework to Accelerate Regional Digital Leadership by 2030SINGAPORE - Media OutReach Newswire - 22 July 2025 - The Le...

DFI Retail Group Holdings Limited Half-Year Results For The Six Months Ended 30 June 2025 And Announcement Of Special Dividend

Highlights 39% underlying earnings growth Increased contributions from associates, Health & Beauty and Food Health & Beauty delivered strong like-for-like (LFL...

HeyMax Acquires Hong Kong’s krip to Accelerate Regional Expansion into Loyalty and Rewards Market

HeyMax’s first acquisition fast-tracks its regional expansion, bringing over 6,000 credit card deals offered by over 3,000 merchants, and personalized loyalty experiences to consumers in Hong Kong ...

Baby boomers are driving development feasibility leading to larger apartments

As residential developers continue to grapple with feasibility issues on apartment projects, the sector is struggling to deliver volumes of new st...

Hays launches FY25/26 Salary Guide: ‘Salary Paradox’ deepens as pay rises fail Australians

Rising dissatisfaction with pay, progression and perks is fuelling a new wave of career change in FY25/26, as Australians demand more from employe...

Australian Businesses Still Stuck in the AI Hype Cycle

Data Governance Failures, ROI Gaps and Unclear Strategy Slowing Progress Despite artificial intelligence (AI) dominating headlines and boardroom ag...

How to ensure your manufacturing business survives international tariff turmoil

Optimising your operations in FY2026 will help you combat the challenges of a volatile trading environment. Up, down, in out…Since the commence...

Why Apptio is Enhancing Visibility into AI and Hybrid Cloud

AI investments have become a strategic priority for business with the mindset that if you're not using AI, you're falling behind. But according to...

Beyond borders: Building a scalable strategy for international hiring

For many Australian businesses, growth increasingly depends on thinking beyond local borders.  As wage pressures rise, and specialised talent pool...

Sell by LayBy